Latest News Updates
ZATCA Determines the Criteria for Selecting the Taxpayers in Phase II of E-invoicing
Riyadh December 28, 2022:
Zakat, Tax and Customs Authority (ZATCA) determined the criteria for selecting the targeted taxpayers in the second wave for implementing the “Integration Phase” of E-invoicing. The authority clarified that the second wave includes all taxpayers whose revenues subject to VAT exceeded (half a billion Saudi riyals) in 2021. VAT-registered taxpayers meeting the criteria should integrate their E-invoicing solutions with the FATOORA Platform starting from July 1, 2023.
ZATCA has stated that Phase Two requires additional requirements, the most prominent is to integrate taxpayer’s E-invoicing solutions with (FATOORA) Platform, issue electronic invoices based on a specific format, and include additional fields in the invoice. Furthermore, the second phase of E-invoicing would be implemented in waves, and ZATCA would inform the next waves at least six months prior the integration date.
It is noteworthy that the implementation of the Integration Phase of the first wave will be on January 1, 2023, for the taxpayers whose selection criteria were announced last June, after such taxpayers completed the necessary requirements to complete this phase.